Qualifications

Ability to see the big picture but also understand the subtleties of nonprofit finance

Meetings

This committee meets in person annually in the fall and on an as needed basis throughout the year via conference call.

Term of Appointees

The APTA Bylaws, Article X., Section 1, A., provides that "[t]this committee shall consist of at least five members, one of whom shall be the treasurer, and each member other than the treasurer shall serve a term of four years. At least one member shall be appointed annually."

Charge

"…This committee shall advise the Board of Directors on matters pertaining to the association's financial needs, growth, and stability based on periodic review of income, expenditure, and investments. The committee shall present an annual budget to the Board of Directors. The committee shall be the point of contact and meet at least annually with the Association’s independent auditors to discuss the annual audit. The committee shall advise the Board of Directors of any irregularities or material findings that arise from the independent audit or other sources."

In addition to the directives as indicated in the APTA bylaws, the Board of Directors' determined charge for the Finance and Audit Committee is to:

Review the annual budget to ensure that it is sound from a financial perspective and make a recommendation to the Board of Directors

Additional Information

Size of Appointed Group: The APTA bylaws, Article X., Section 1., A., provides that "[t]his committee shall consist of at least 5 members, 1 of whom shall be the Treasurer…"
1 Board Chair (APTA Treasurer), 4 members, and APTA President serves as ex-officio (APTA bylaws: Article IX, Section 3, A and Article X, Section I, A). In addition, the President may designate 1 member of the Board to serve as a consultant to the Committee.

For additional information regarding this and other APTA volunteer opportunities, please contact Amber Neil in APTA's National Governance and Leadership Department at 800/999-2782, ext. 8184, or by email at appointedgrouppool@apta.org.